Realtors across the southern Georgian Bay region are asking higher prices as the inventory of properties declines.
President Kevin Woolham reports that strong sales over the past year have reduced the supply of new homes to their lowest level in ten years.
Woolham didn’t give any figures on the average price increases in his latest report.
He did say, however, that sales for the western and eastern districts of the region are running almost 25 percent ahead of the same period of 2014. He says that represents the second best start for any year on record.
The Eastern District encompasses the Towns of Midland and Penetanguishene and 12 surrounding communities.
The Western District includes Wasaga Beach, Collingwood, The Blue Mountains, Grey Highlands and the Municipality of Meaford.
“That (low supply) translates into the tightest market conditions in a decade,” says Woolham.